Schlumberger (SLB) delivered solid Q4 results Friday. The company beat on revenue and eps. The stock ended up slightly on the news, in line with broader markets. Below is my takeaway on the quarter. North America Was Not As Strong As Expected North America land drilling has been the white hot sector of the oil…
Facebook CEO Mark Zuckerberg recently wrote, “Today I’m sharing our second major update this year: to make sure the news you see, while less overall, is high quality. I’ve asked our product teams to make sure we prioritize news that is trustworthy, informative, and local. And we’re starting next week with trusted sources.” In the same…
Facebook CEO Mark Zuckerberg recently wrote, “Today I’m sharing our second major update this year: to make sure the news you see, while less overall, is high quality. I’ve asked our product teams to make sure we prioritize news that is trustworthy, informative, and local. And we’re starting next week with trusted sources.” In the same…
“We have entered the potential target range that is suggested…” Last week’s letter mentioned that the seemingly exponential move in the SPX was unsustainable, especially since we had reached the projection range assigned by the re-accumulation level which formed at 2685. The index was quick to confirm this diagnosis with a new high Tuesday, immediately…
Dollar/yen extended its downfall, trading at the 110 level but not going lower so far. The dollar’s weakness was felt in this pair and so did the attempts to recover. Will it continue lower? We have key events in the US and a rate decision by the BOJ. USD/JPY fundamental movers Housing starts and building permits were quite…
On Friday, the IEA made me talk about the self-defeating dynamic gripping the global crude market again. In their latest report, the IEA predicted that U.S. crude supply is set to push past 10 mb/d, overtaking Saudi Arabia and rivaling Russia. That is of course attributable to the OPEC+ production cuts which have helped drive up prices, thus coaxing…
We have seen sentiment start off to a remarkable robust clip for 2018, but how much of that is due to an absence of heavy event risk to undermine momentum born of complacency? That question will be put to the test next week with ECB and BoJ rate decision, US and UK GDP figures and…
Scandalous revelations threaten to cause an upheaval not only in what happens to the Mueller investigation but more prominent figures in what’s called a ‘DC Swamp’; ‘if’ allegations emanating from several Congressmen prove to be anywhere near accurate. While a release of the ‘Top Secret’ document wouldn’t change the President’s pomposity (might even enhance it);there is…
Last week saw the S&P hit the 15% of historic price action where it has been 10.7% or higher above its 200-day MA since 1950. As of Friday, it’s only 0.3% away from hitting the 10% of historic price action; i.e. over the last 68 years the S&P, 90% of historic action has been lower…
On Jan. 17, the Federal Reserve stated that industrial production in the United States for December had surged, buoyed by an increase in mining and utilities production. Unusually cold weather conditions led to increased demand for heating, which also gave a boost to the industrial activity in the country. Moreover, improving global economic conditions and…
